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Count Vietnam among the Asian nations where interest and demand for exchange traded funds is growing. The Southeast Asian nation will see first domestically-listed ETF debut in the coming weeks.

The VFMVN30 ETF, which will be managed by Ho Chi Minh Securities Corporation (HSC) and Bao Viet Securities Company (BVSC), will debut between July 21 and Aug. 14, Asia Asset Management reported.

The VFMVN30 ETF will track the 30 largest and most liquid companies listed on the Ho Chi Minh Stock Exchange. Those 30 companies represent about 60% of the exchange’s market value, which is well above the market value tracked by two offshore ETFs that hold Vietnamese shares, according to Asia Asset Management.

The ETF could be seen as the latest sign that Vietnamese policymakers are warming to the idea of making financial markets there more accessible to foreign investors. Plans by Vietnamese policymakers and the central bank to lift foreign ownership limits are widely known and date back to early 2013. There is still optimism that Vietnam will increase foreign ownership limits in financial services companies. [Revisiting the Vietnam ETF]

Asia remains a frontier of possibly rapid growth for the ETF industry. The Asia-Pacific region has just $165 billion in combined ETF assets under management today with China, Hong Kong and Japan dominating the industry in the region, but Bank of New York Mellon thinks Asia’s ETF business can grow to $250 billion by 2016, according to an article in The Asset. [Asia’s ETF Industry Eyes Growth]